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BTC $72,279.08 +2.35%
ETH $2,126.71 +2.50%
BNB $666.98 +2.19%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $470.62 +2.51%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

ethe

Ethereum: Privacy in the ecosystem is experiencing a "renaissance," and today's Ethereum is the new cypherpunk

The official Ethereum team stated on the X platform that privacy within the Ethereum ecosystem is undergoing a transformation, and it could even be described as a renaissance. Ethereum originated from the cypherpunk movement, which has been part of the struggle for digital rights through open-source technology for decades, with the foundation of this struggle being the protection of privacy rights, meaning that users' online activities should not be repackaged and used for commercial purposes. Cypherpunk signifies a commitment to resisting censorship, open source, privacy, and security (abbreviated as CROPS).The new cypherpunk is a contemporary collaborative concept that upholds cultural values such as permissionless, privacy, decentralization, anti-censorship, trustlessness, and open source. It is oriented towards positive-sum games but rooted in a realistic political understanding of self-defense. Today's Ethereum embodies the new cypherpunk, modernizing traditional interpretations. This is cypherpunk with an Ethereum twist!The new cypherpunk is part of Eric Hughes' legacy, who is a paradigm of the deepest understanding of how to achieve privacy within the cypherpunk community. At the end of 2023, Vitalik called on the community to "revitalize Ethereum cypherpunk," and now may be the best time to become advocates for privacy within the Ethereum ecosystem.

CryptoQuant: Affected by the Ethereum "adoption paradox," the price of ETH may drop to $1500

According to The Block, on-chain analytics firm CryptoQuant states that Ethereum is facing an "adoption paradox," where network activity has reached an all-time high, yet the price of ETH has significantly dropped.The research director at CryptoQuant indicated that if the bear market continues, ETH could further decline to around $1,500, a level that may be reached by the end of Q3 or the beginning of Q4 this year. Data shows that Ethereum's daily active addresses hit an all-time high last month, surpassing levels seen during the 2021 bull market, while ETH has dropped over 50% from this cycle's peak. Activity generated by smart contracts and automated protocols has also surged, with internal contract calls reaching an all-time high last month, but the historical relationship has deteriorated, weakening the positive correlation between ETH prices and contract-driven activity.CryptoQuant pointed out that exchange inflows explain ETH price dynamics better than network activity metrics, and a higher exchange inflow ratio of ETH relative to Bitcoin indicates stronger relative selling pressure. Ethereum's realized market cap has recently turned negative over the past year, indicating that capital is flowing out, even as on-chain activity continues to grow. The research director stated that ETH needs to see positive capital inflows and lower exchange inflows to emerge from the bear market.
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